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Chapter 11—The Statement of Cash Flows – RoyalCustomEssays

Chapter 11—The Statement of Cash Flows

44% of the 205 Democrats voted for the bill while 46% of the 230 Republicans voted for it.a. z = -0.355b. z = -0.418c. z = -0.251d. z = -0.4607. Formulate the indicated conclusion in nontechnical terms. Be sure to address the original claim. A researcher claims that the amounts of acetaminophen in a certain brand of cold tablet have a standard deviation from the = 2.5 mg claimed by the manufacturer. Assuming that a hypothesis test of the claim has been conducted and that the conclusion is failure to reject the null hypothesis
July 6, 2018
Securities and Investments-What is the best reason to use the price-to-sales (P/S) ratio …
July 6, 2018

1. Maytag Corporation’s balance sheets for the
last 2 years are provided below:

Balance Sheets

2013

2012

Cash

$ 82

$ 40

Accounts Receivable

180

150

Inventory

170

200

Equipment

200

140

Accum. Depreciation

(72)

(60)

Total Assets

$560

$470

Accounts Payable

$100

$ 80

L/T Notes Payable

100

50

Common Stock

250

250

Retained Earnings

110

90

Total Liabilities &

Stockholder Equity

$560

$470

The company’s income statement for 2013 is provided below:

Income Statement

2013

Sales

$345

Expenses:

Cost of Goods Sold

$120

Operating Expenses

58

Depreciation Expense

20

Interest Expense

2

200

Operating Income

145

Gain on Sale–Equipment*

5

Income before Taxes

150

Tax Expense

30

Net Income

$120

*The company sold equipment for $57 which had a cost of $60.

A) Prepare the company’s Statement of Cash flows for 2013. Use the
direct method of computing cash flows from operating activities.

B) Prepare the Cash Flows from Operating Activities section of the cash
flow statement using the indirect method.

Mary Kay Cosmetics
Selected data and additional information from the company’s records are
presented below:

Balance Sheet Data

2014

2013

Cash

$235,000

246,000

Accounts receivable

$120,000

$150,000

Inventories

56,000

50,000

Accounts payable

38,000

70,000

Salaries payable

10,000

5,000

Equipment

110,000

70,000

Accumulated depreciation

28,000

32,000

Bonds payable

100,000

200,000

Common stock

300,000

200,000

Retained earnings

76,000

40,000

Income Statement Data

2014

Net sales

$920,000

Cost of goods sold

700,000

Operating expenses (excluding depreciation expense)

160,000

Net income (Includes depreciation expense and gain)

56,000

Gain on sale of equipment

4,000

Additional information:

1.

Equipment with a cost of $30,000 and a book value of $18,000 was sold
for $22,000 during 2014.

2.

Common stock was issued to retire bonds payable during 2014.

3.

The only items affecting retained earnings in 2014 were net income and
dividends declared and paid.

2. Refer to Mary Kay Cosmetics. What amount of
cash was collected from customers during 2014?

3. Refer to Mary Kay Cosmetics. What is the
amount paid to suppliers for purchases of merchandise during 2014?

4. Refer to Mary Kay Cosmetics. What is the
amount paid for operating expenses during 2014?

5. Refer to Mary Kay Cosmetics. What amount was
paid to acquire equipment during 2014?

6. Refer to Mary Kay Cosmetics. What amount was
recorded as depreciation expense during 2014?

7. Refer to Mary Kay Cosmetics. What amount was
declared and paid for dividends during 2014?

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